Grace & White Inc. NY Decreases Stock Holdings in The Hanover Insurance Group, Inc. (NYSE:THG)

Grace & White Inc. NY trimmed its holdings in shares of The Hanover Insurance Group, Inc. (NYSE:THG) by 36.0% in the third quarter, HoldingsChannel.com reports. The fund owned 1,775 shares of the insurance provider’s stock after selling 1,000 shares during the period. Grace & White Inc. NY’s holdings in The Hanover Insurance Group were worth $263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of The Hanover Insurance Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 3,623,766 shares of the insurance provider’s stock valued at $439,998,000 after acquiring an additional 13,030 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of The Hanover Insurance Group by 5.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,341,253 shares of the insurance provider’s stock valued at $168,247,000 after acquiring an additional 70,161 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of The Hanover Insurance Group by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 997,011 shares of the insurance provider’s stock valued at $147,667,000 after acquiring an additional 4,717 shares during the last quarter. American Century Companies Inc. increased its position in shares of The Hanover Insurance Group by 4.3% during the second quarter. American Century Companies Inc. now owns 802,033 shares of the insurance provider’s stock valued at $100,607,000 after acquiring an additional 33,249 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of The Hanover Insurance Group by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 798,109 shares of the insurance provider’s stock valued at $100,111,000 after acquiring an additional 30,536 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kathy S. Lane sold 1,884 shares of The Hanover Insurance Group stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $134.23, for a total transaction of $252,889.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey M. Farber sold 300 shares of The Hanover Insurance Group stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $150.00, for a total value of $45,000.00. Following the sale, the executive vice president now directly owns 89,733 shares of the company’s stock, valued at $13,459,950. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,303 shares of company stock worth $4,372,203. 2.40% of the stock is owned by corporate insiders.

The Hanover Insurance Group Price Performance

Shares of NYSE THG opened at $152.84 on Tuesday. The stock has a market cap of $5.49 billion, a PE ratio of 34.27 and a beta of 0.69. The Hanover Insurance Group, Inc. has a fifty-two week low of $112.22 and a fifty-two week high of $155.84. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a fifty day moving average of $144.92 and a 200-day moving average of $135.31.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.49 billion. The Hanover Insurance Group had a return on equity of 12.42% and a net margin of 4.44%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.91) earnings per share. Equities research analysts anticipate that The Hanover Insurance Group, Inc. will post 10.99 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, September 13th. The Hanover Insurance Group’s dividend payout ratio (DPR) is presently 76.23%.

Wall Street Analyst Weigh In

THG has been the subject of a number of recent research reports. JMP Securities reissued a “market outperform” rating and issued a $160.00 target price on shares of The Hanover Insurance Group in a research report on Tuesday, October 15th. Piper Sandler raised their target price on The Hanover Insurance Group from $147.00 to $162.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Keefe, Bruyette & Woods raised their target price on The Hanover Insurance Group from $142.00 to $144.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 13th. Finally, Bank of America raised their target price on The Hanover Insurance Group from $158.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $160.20.

About The Hanover Insurance Group

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.